Zurcher Kantonalbank Zurich Cantonalbank Lowers Stake in Darling Ingredients Inc. (NYSE:DAR)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Darling Ingredients Inc. (NYSE:DAR) by 21.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,098 shares of the company’s stock after selling 15,243 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Darling Ingredients were worth $2,122,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Glenmede Trust Co. NA increased its position in Darling Ingredients by 5.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 7,609 shares of the company’s stock valued at $283,000 after buying an additional 412 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of Darling Ingredients by 52.4% in the third quarter. Townsquare Capital LLC now owns 12,395 shares of the company’s stock worth $461,000 after acquiring an additional 4,261 shares during the last quarter. FMR LLC increased its holdings in shares of Darling Ingredients by 17.3% during the third quarter. FMR LLC now owns 3,324,217 shares of the company’s stock valued at $123,528,000 after acquiring an additional 491,477 shares in the last quarter. Bank of Montreal Can raised its position in shares of Darling Ingredients by 127.7% in the 3rd quarter. Bank of Montreal Can now owns 112,252 shares of the company’s stock worth $4,239,000 after purchasing an additional 62,958 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Darling Ingredients by 53.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 988,769 shares of the company’s stock worth $36,743,000 after purchasing an additional 342,643 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on DAR. Jefferies Financial Group raised their price objective on shares of Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler decreased their price objective on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, October 11th. TD Cowen lowered their price objective on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. lifted their target price on Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Darling Ingredients has an average rating of “Moderate Buy” and an average target price of $53.44.

Darling Ingredients Trading Down 5.7 %

NYSE:DAR opened at $37.47 on Wednesday. The company has a market cap of $5.96 billion, a PE ratio of 23.13 and a beta of 1.19. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.89. The company has a 50 day simple moving average of $38.96 and a two-hundred day simple moving average of $38.28. Darling Ingredients Inc. has a 12 month low of $32.67 and a 12 month high of $51.36.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.29). Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm earned $0.77 EPS. The business’s revenue was down 12.5% on a year-over-year basis. Research analysts forecast that Darling Ingredients Inc. will post 1.88 earnings per share for the current year.

Darling Ingredients Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.